Jonathan Wong
The Latest
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IBM to Acquire HashiCorp for $6.4 Billion, Shares Slip on Mixed Q1 Results
IBM announced plans to acquire cloud-software company HashiCorp for $6.4 billion on Wednesday, a move aimed at creating a comprehensive end-to-end hybrid cloud platform for the AI era. The news came alongside the computing giant's first-quarter earnings report, which showed mixed results, with adjusted earnings per share beating expectations but revenue falling slightly short of estimates. 
IBM announced plans to acquire cloud-software company HashiCorp for $6.4 billion on Wednesday, a move aimed at creating a comprehensive end-to-end hybrid cloud platform for the AI era. The news came alongside the computing giant's first-quarter earnings report, which showed mixed results, with adjusted earnings per share beating expectations but revenue falling slightly short of estimates. -
Boeing Beats Earnings Expectations Amidst 737 Max Crisis, CEO to Step Down
Boeing, the aerospace giant, reported better-than-expected first-quarter results on Wednesday, despite facing a tumultuous period headlined by the 737 Max crisis. The company posted a narrower core loss per share of $1.13, beating Wall Street estimates of $1.72, while revenue came in at $16.57 billion, surpassing forecasts of $16.25 billion. 
Boeing, the aerospace giant, reported better-than-expected first-quarter results on Wednesday, despite facing a tumultuous period headlined by the 737 Max crisis. The company posted a narrower core loss per share of $1.13, beating Wall Street estimates of $1.72, while revenue came in at $16.57 billion, surpassing forecasts of $16.25 billion. -
Tesla Shares Surge as Elon Musk Announces Plans for New Affordable EV Models by 2025
Tesla shares experienced a significant 15% surge on Wednesday morning following CEO Elon Musk's announcement that the electric-vehicle company plans to begin production of new affordable EV models by early 2025. The news came during Tesla's earnings call on Tuesday, where the company reported disappointing first-quarter numbers, with revenue falling 9% year over year - its steepest annual decline since 2012. 
Tesla shares experienced a significant 15% surge on Wednesday morning following CEO Elon Musk's announcement that the electric-vehicle company plans to begin production of new affordable EV models by early 2025. The news came during Tesla's earnings call on Tuesday, where the company reported disappointing first-quarter numbers, with revenue falling 9% year over year - its steepest annual decline since 2012. -
TikTok Faces Potential US Ban as Bill Heads to Biden's Desk for Approval
The United States is on the verge of banning the hugely popular Chinese app TikTok, as a measure to outlaw the video-sharing platform has won congressional approval and is now awaiting President Joe Biden's signature. 
The United States is on the verge of banning the hugely popular Chinese app TikTok, as a measure to outlaw the video-sharing platform has won congressional approval and is now awaiting President Joe Biden's signature. -
Tesla Posts 55% Drop in Q1 Profits Amid EV Price Cuts and 'Numerous Challenges'
Tesla reported a 55% decline in profits for the first quarter of 2024, with earnings falling to $1.13 billion from the same year-ago period. The electric vehicle manufacturer attributed the drop to its protracted EV price-cutting strategy and "numerous challenges," including the Red Sea conflict, an arson attack at its Gigafactory Berlin, and the gradual ramp of the updated Model 3 at its Fremont factory. 
Tesla reported a 55% decline in profits for the first quarter of 2024, with earnings falling to $1.13 billion from the same year-ago period. The electric vehicle manufacturer attributed the drop to its protracted EV price-cutting strategy and "numerous challenges," including the Red Sea conflict, an arson attack at its Gigafactory Berlin, and the gradual ramp of the updated Model 3 at its Fremont factory. -
OpenAI Rumored to Launch GPT-5 Soon, Sparking Anticipation for Next-Gen Language Model
The artificial intelligence community is abuzz with rumors that OpenAI, the pioneering AI research laboratory, is set to unveil its highly anticipated GPT-5 language model as early as April 23, 2024. The speculation has intensified following cryptic images shared by the company featuring the number 22, which coincides with the birthday of OpenAI's CEO, Sam Altman. 
The artificial intelligence community is abuzz with rumors that OpenAI, the pioneering AI research laboratory, is set to unveil its highly anticipated GPT-5 language model as early as April 23, 2024. The speculation has intensified following cryptic images shared by the company featuring the number 22, which coincides with the birthday of OpenAI's CEO, Sam Altman. -
Spotify Scales Back Marketing, Posts Record Profits Amid User Growth Challenges
Spotify Technology (SPOT) saw its gross profit exceed €1 billion for the first time, despite a decline in marketing investment that impacted user growth rates. As the Swedish-based streaming giant continues to navigate its expansive audio empire, encompassing music, podcasts, and audiobooks, this quarter's financials offer a mixed picture of profitability paired with slowed growth in monthly active users (MAUs). 
Spotify Technology (SPOT) saw its gross profit exceed €1 billion for the first time, despite a decline in marketing investment that impacted user growth rates. As the Swedish-based streaming giant continues to navigate its expansive audio empire, encompassing music, podcasts, and audiobooks, this quarter's financials offer a mixed picture of profitability paired with slowed growth in monthly active users (MAUs). -
Global Electric Vehicle Sales Surge, Projected to Reach 17 Million in 2024, IEA Report Reveals
The global electric vehicle (EV) market is experiencing robust growth, with sales projected to rise by more than a fifth to reach 17 million in 2024, according to a new report by the International Energy Agency (IEA). Despite the positive outlook, the market remains heavily concentrated in China, which accounts for 60% of global EV sales, while Europe and the United States represent 25% and 10%, respectively. 
The global electric vehicle (EV) market is experiencing robust growth, with sales projected to rise by more than a fifth to reach 17 million in 2024, according to a new report by the International Energy Agency (IEA). Despite the positive outlook, the market remains heavily concentrated in China, which accounts for 60% of global EV sales, while Europe and the United States represent 25% and 10%, respectively. -
General Motors Surpasses Quarterly Earnings Expectations, Raises Full-Year Guidance
General Motors (GM) reported better-than-expected quarterly results on Tuesday, prompting the automaker to raise its annual forecast and sending shares up 4.9% in pre-market trading. The company's strong performance was driven by stable pricing and demand for its gasoline-powered vehicles, despite challenges in China and with its electric vehicle (EV) business. 
General Motors (GM) reported better-than-expected quarterly results on Tuesday, prompting the automaker to raise its annual forecast and sending shares up 4.9% in pre-market trading. The company's strong performance was driven by stable pricing and demand for its gasoline-powered vehicles, despite challenges in China and with its electric vehicle (EV) business. -
FTC Sues to Block Tapestry's $8.5 Billion Acquisition of Capri, Citing Handbag Market Competition Concerns
The U.S. Federal Trade Commission (FTC) has filed a lawsuit to block Coach parent Tapestry's $8.5 billion acquisition of Michael Kors owner Capri, claiming that the deal would eliminate direct competition between the companies' brands in the affordable luxury handbag market. 
The U.S. Federal Trade Commission (FTC) has filed a lawsuit to block Coach parent Tapestry's $8.5 billion acquisition of Michael Kors owner Capri, claiming that the deal would eliminate direct competition between the companies' brands in the affordable luxury handbag market.
